Stocks: Earnings and housing data in focus

U.S. stock futures were little changed Wednesday as investors took in new housing market data and another batch of corporate earnings.

Housing starts, which tally the number of new homes under construction, climbed 15% to an annual rate of 872,000 in September, according to the Census Bureau. That's the highest level in more than four years and much higher than the 768,000 rate economists surveyed by Briefing.com had expected.

Building permits for future construction also rose to the highest level in more than four years. Permits were issued at an annual rate of 894,000 during the month, up nearly 12% from an 801,000 rate in the previous month.

PepsiCo(PEP) logged earnings that topped forecasts, but revenue slipped more than 5% from a year ago. Shares of the soft drink manufacturer edged up slightly in premarket trading. Earnings from Abbott Laboratories(ABT) also beat expectations.

After the market close Tuesday, chip maker Intel(INTC) reported earnings that beat Wall Street's expectations, but fell from a year earlier. Information technology company IBM(IBM) posted earnings that topped forecasts by a penny a share, but revenue fell short of expectations.

In premarket trading Wednesday, shares of Intel slipped more than 2% while IBM shares dropped 4%.